Retreat in various domestic and imported edible oils

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(By commerce representative), Mumbai, Ta. 21 July 2020, Tuesday

The Mumbai Oil and Gas Market witnessed mild weather today with prices of various domestic and imported edible oils. Manufacturing establishments as well as world market news showed a decline from high headlines. Besides, new demand in the Mumbai market was also slow today.

In Malaysia, palm oil prices, which had risen to a five-month high in Malaysia, fell 12 points in futures today, while palm product prices were reported to be in the range of ઢ 2.5 to પાંચ 5. However, in the first 20 days of July, palm oil production fell by about 15 per cent.

Meanwhile, in the Mumbai spot market today, the price of 10 kg of cingulum oil was quoted at Rs 1,200 to Rs 1,210, while the price of 10 kg of cingulum oil was quoted at Rs 1,50 to Rs 1,2, 15 kg to Rs 4,010 to Rs 4, 070 and cotton washed from Rs. 610 to Rs. Imported palm oil was trading at Rs 715 in the Mumbai market today.

While the price of crude palm oil (CPO) Kandla was quoted at Rs. In the futures market, CPO futures were trading at around Rs 2.50 today, up by Rs 215, while soyoil's August futures were marginally lower at Rs 5. Soybean futures fell by Rs 4 to Rs 4.5 in the evening.

In the Mumbai market, soybean oil was trading at Rs 705 to Rs 710 for digam, Rs 3 to Rs 5 for refined, Rs 5 for cottonseed oil, Rs 200 for sunflower and Rs 3 for refined and Rs 6 for mustard. In the Mumbai market today, the price of castor oil fell by Rs 3 to Rs 5 per 10 kg.

While the present castor was falling by Rs 15 to Rs 2,150. In the Mumbai flour market, the price of 1 tonne of sunflower flour went up by Rs 200, while other flours were quiet. According to world market indications, Iran had agreed to import about 3.50 lakh tonnes of soymeal from Brazil for August and September deliveries.

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